SLANG Shares Surging: Growth Continues For Cannabis Co. As Q3 Revenue And Gross Profit Increase
Portfolio Pulse from Jelena Martinovic
SLANG Worldwide Inc. (OTCQB:SLGWF) reported increased revenue and gross profit for Q3 2023, with total revenue of $6.7 million and gross profit of $4.8 million. The company's net loss decreased, and all operating units were cash flow positive. SLANG has a strategic partnership with Trulieve Cannabis Corp. (OTCQX:TCNNF), which has been beneficial, including the launch of SLANG's vape brand in West Virginia. SLANG's OTC shares were up 3.77% at $0.028 per share.
November 28, 2023 | 3:36 pm
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POSITIVE IMPACT
SLANG Worldwide Inc. reported positive Q3 results with increased revenue and gross profit, and a decreased net loss. The company's operational units are cash flow positive, indicating a strong financial position.
The positive financial results and the decrease in net loss suggest a strong performance, which typically leads to a positive short-term impact on the stock price. The increase in share price following the report supports this analysis.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
Trulieve Cannabis Corp. is mentioned as a strategic partner to SLANG Worldwide Inc., contributing to SLANG's growth and market presence, particularly in West Virginia.
The strategic partnership with SLANG Worldwide Inc. and the successful launch of products in new markets suggest a positive impact on Trulieve's market position and potential revenue growth, which could positively affect its stock price in the short term.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 70